iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,468 Blog Posts

Leveraged Long

Once again, all of you fuckers who were calling for a market crash this morning were wrong. You’re like a living fable, specific to the boy who cried wolf. The market fell 75 points and no one gives a shit about Greece anymore.

Here is what is going to happen:

The fucktards who just got elected will find religion and tow the line. If not, they will be kicked out of the EU and Spain and Italy will enjoy strong ring fencing to support their borrowing costs via the ECB. If you insist on betting on disaster, I will adamantly bet against you. It’s true, the market has been tough; but let’s not listen to men dressed like cows, declaring all is lost.  There is nothing extraordinary about the market action. As a point in fact, it is behaving as it should, more than ever.

Companies with bad earnings are being deflated, while winners keep wining. Old man stocks are regarded as safe havens and small cappers are volatile.

Gold and silver are horrible and TLT is on the cusp of $120 again. It is clear to me, the threat to the system is not Zimbabwe style inflation, but the specter of the economy falling into a deflationary vortex. Because of that, you can bank on the Fed providing a bid for this market. Now if you are in the camp who believes such a bid will only present itself AFTER a calamitous market decline, maybe down to 10,000 Dow, I believe you do not know the Bearded Clam very well.

He’s gonna get you bitches, starting with tomorrows trade.

NOTE: I am 110% long.

 

If you enjoy the content at iBankCoin, please follow us on Twitter

28 comments

  1. Genghis Khan

    Fly- I’m curious, what is your YTD now, are you still in positive territory? Also, did you sell CLR? Any word on commodities? A lot of them have been shitting the shower lately. Thanks.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • The Fly

      +10%. Yes, I sold CLR.

      Commodities will likely bounce the hardest. I just don’t want to load up on them now.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
      • MetalLeg

        Wining?

        Like in wining and dining?

        This time, I kept the evidence.

        • 0
        • 0
        • 0 Deem this to be "Fake News"
  2. Rhino

    “Cocaine blunts, hip-hop tapes, rubber car keys, and a bearded clam that’s baked[sic]”

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • noodle

      Rhino I miss your posts in BN

      • 0
      • 0
      • 0 Deem this to be "Fake News"
      • Rhino

        Yeah, gonna try to drop one tonight. Been really busy with dumb ass school shit, like this 12 page paper on advanced option theory.

        • 0
        • 0
        • 0 Deem this to be "Fake News"
  3. slim

    Hope you’re right Fly. I loaded the truck with May 18 spy 136 calls this morning.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  4. razorsedge

    i cant hear you over the sound of my awsom-ness. bot bac at the close

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  5. Green Machine

    “Men dressed like cows” just makes me think of that 80’s classic flick Top Secret.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  6. dave

    Damn, I was hoping for war.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  7. Hugh Hendry

    I am the threat to the system. Mr Deflation himself.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  8. jason

    Ya Fly long for sure. I am in gold oil and e-mini longs snortin junk off strippers lower back tattoos. Long live the clam and his coke-blunts!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  9. JustCommonSense
    JustCommonSense

    Like the guy on Storage Wars. EeYuuuuuuup!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  10. jimmy_two_times
    jimmy_two_times

    Fly, with all due respect. In a previous post you had mentioned no QEing until 10500 or so on the Dow.

    Why the change?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  11. Fidel Cash Grow
    Fidel Cash Grow

    I don’t know if I am on board with everyone on IBC, including myself, having access to the Fly’s picture collection. Part of the fun of checking out the latest post was to see if the Fly would trot out Merlin or one of my other favorite pics. May seem like an odd request, but I respectfully encourage the Fly to be less generous, and to share less in the future.

    Sold $P, bought $LNKD on the dip and sold 6 points higher. Not a bad day ($YELP notwithstanding)

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  12. peaches

    http://www.businessweek.com/news/2012-05-08/kfc-bet-on-africa-middle-class-draws-global-retailers

    Thought you might like this, one of your grandpa stocks are moving into Africa.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  13. razorsedge

    GMCR, yikes!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  14. lowoffer

    I BET IT ALL

    http://www.youtube.com/watch?v=JhbhExed-OE

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  15. Freddy Fishsticks
    Freddy Fishsticks

    May 2013, as I’ve been saying for 4 years here. Buy and hold.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  16. Bobby Boucher

    Equity only put-call ratio at .98 as of today’s close. Average going back to 2003 is .65 with a std deviation of .12

    So we are now almost 3 std deviations above the mean. The rubber band is getting ready to snap back and rip the tits off the shorts.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  17. Yogi & Boo Boo
    Yogi & Boo Boo

    Spamasaurus Multipostus is having a wonderful time shitting all over the news tonight.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  18. alan

    hope you are right, pal

    • 0
    • 0
    • 0 Deem this to be "Fake News"